Dangote refinery cuts petrol price for marketers

The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), also known as petrol, for oil marketers. The new price is ₦970 per litre, down from the previously set ₦990 ex-depot price announced earlier this month.

In a statement released on Sunday, Anthony Chiejina, the Chief Branding and Communications Officer of Dangote Group, revealed that this decision is a gesture of gratitude towards Nigerians for their ongoing support in the successful realization of the refinery. The company also expressed appreciation for the government’s support in fostering domestic enterprise.

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“This reduction is a way of saying thank you to the government and to the people of Nigeria for their unflinching support,” the statement read. “It is also aimed at encouraging the continued growth of local businesses and ensuring a more stable energy sector.”

The new price cut is expected to benefit marketers by saving them ₦20 for every litre of petrol purchased from the refinery, located in the Ibeju-Lekki area of Lagos State. This comes at a crucial time as Nigeria faces challenges related to fuel supply and pricing.

Dangote Refinery has assured the public that the price reduction will not come at the expense of the quality of the petrol supplied. The company emphasized that it remains committed to producing high-quality, environmentally friendly, and sustainable petroleum products.

Additionally, Dangote Refinery assured Nigerians that its production capacity would continue to ramp up to meet the country’s fuel needs and eliminate any fears of a fuel supply shortfall.

The announcement comes shortly after reports indicating that Dangote Refinery and other local refineries have struggled to secure adequate supplies of crude oil, a key factor in domestic production.

In related developments, the refinery has also been engaged in direct agreements with marketers for the lifting of petrol and diesel, further expanding its influence in the Nigerian petroleum sector.

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